The Manufacturers Life Insurance Company Sells 170,547 Shares of Tyson Foods, Inc. $TSN

Key Points

• The Manufacturers Life Insurance Company has reduced its holdings in Tyson Foods by 36.7%, owning approximately $18.76 million worth of shares after selling 170,547 shares in the first quarter.
• Several analysts have recently downgraded Tyson Foods' stock ratings, with the average target price now set at $61.25 and a consensus rating of "Hold."
• Tyson Foods has announced a stock buyback program allowing for the repurchase of 43 million shares, indicating management's belief that its stock is undervalued.

The Manufacturers Life Insurance Company lessened its holdings in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 36.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 294,017 shares of the company's stock after selling 170,547 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Tyson Foods worth $18,761,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSN. Magnetar Financial LLC raised its position in Tyson Foods by 36.7% during the first quarter. Magnetar Financial LLC now owns 41,852 shares of the company's stock valued at $2,671,000 after purchasing an additional 11,238 shares in the last quarter. State of Wyoming bought a new position in shares of Tyson Foods during the 1st quarter worth approximately $100,000. Landscape Capital Management L.L.C. increased its stake in shares of Tyson Foods by 61.0% during the 1st quarter. Landscape Capital Management L.L.C. now owns 19,375 shares of the company's stock worth $1,236,000 after purchasing an additional 7,338 shares during the last quarter. Ieq Capital LLC purchased a new position in Tyson Foods in the 1st quarter valued at approximately $5,991,000. Finally, Quadcap Wealth Management LLC purchased a new position in shares of Tyson Foods during the 1st quarter valued at $472,000. Institutional investors own 67.00% of the company's stock.

Tyson Foods Trading Down 0.1%

NYSE:TSN traded down $0.03 on Friday, reaching $56.15. The stock had a trading volume of 2,013,532 shares, compared to its average volume of 2,371,410. The company has a market cap of $19.98 billion, a price-to-earnings ratio of 25.52, a P/E/G ratio of 0.76 and a beta of 0.59. Tyson Foods, Inc. has a 12-month low of $51.85 and a 12-month high of $66.88. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.73 and a quick ratio of 0.78. The firm's fifty day moving average is $55.52 and its two-hundred day moving average is $57.49.

Tyson Foods (NYSE:TSN - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.19. The company had revenue of $13.88 billion during the quarter, compared to the consensus estimate of $13.54 billion. Tyson Foods had a net margin of 1.45% and a return on equity of 7.49%. Tyson Foods's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.87 earnings per share. Tyson Foods has set its FY 2025 guidance at EPS. Equities analysts expect that Tyson Foods, Inc. will post 3.8 EPS for the current fiscal year.

Tyson Foods announced that its board has authorized a stock repurchase plan on Thursday, August 7th that allows the company to repurchase 43,000,000 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Tyson Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.00 annualized dividend and a dividend yield of 3.6%. Tyson Foods's payout ratio is presently 90.91%.

Analyst Ratings Changes

TSN has been the topic of several research analyst reports. JP Morgan Cazenove reduced their price target on shares of Tyson Foods from $61.00 to $60.00 and set a "neutral" rating on the stock in a research report on Monday, July 7th. Sanford C. Bernstein lowered shares of Tyson Foods from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $74.00 to $59.00 in a report on Wednesday, July 23rd. JPMorgan Chase & Co. began coverage on shares of Tyson Foods in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $60.00 price objective on the stock. BMO Capital Markets decreased their price objective on shares of Tyson Foods from $62.00 to $58.00 and set a "market perform" rating for the company in a research note on Monday, July 28th. Finally, Bernstein Bank lowered shares of Tyson Foods to a "market perform" rating and cut their price target for the stock from $74.00 to $59.00 in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Tyson Foods currently has an average rating of "Hold" and an average price target of $61.25.

About Tyson Foods

Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods. The company processes live fed cattle and hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case ready beef and pork, and fully cooked meats; raises and processes chickens into fresh, frozen, and value-added chicken products, including breaded chicken strips, nuggets, patties, and other ready-to-fix or fully cooked chicken parts; and supplies poultry breeding stock.